Personal Development
SMART Goal Setting
80% of New Years resolutions will fail by Valentine’s Day. Why is it so hard to follow through? One mistake that people make is in poor goal setting....
80/20 Rule Pareto’s Principle states that 20% of your activities will account for 80% of your results. The key is identifying that 20% of the most productive tasks lead to the most success. This formula can be used for business, time management, physical health, and money management. Dave Ramsey teaches that 80% of success with […]
80/20 Rule
Pareto’s Principle states that 20% of your activities will account for 80% of your results. The key is identifying that 20% of the most productive tasks lead to the most success. This formula can be used for business, time management, physical health, and money management. Dave Ramsey teaches that 80% of success with money is found in habits, emotions, attitudes, and relationships. This leaves 20% of success with money as a result of knowledge. This is a good rule of thumb when understanding why so many have trouble managing money. However…
Everyone has a different thumbprint!
The 80/20 rule can be a great starting point, but it can fail to consider the individual’s role and importance and the circumstances of each situation. Many factors contribute to our current situation: Childhood, past trauma, relational successes or failures, personalities, strengths and weaknesses of talents, and so forth. It can be challenging to grasp the realities of our past and present and how to plan for our future.
How to understand our own “Rule of Thumb.”
Understanding our own “80/20” can be a slow and challenging process. It takes a willingness to control our impulses and commit to knowledge (#1 Fundamental: The #1 Rule Of Money – FiscalDad) and do the work of understanding the current situation (#2 Fundamental: My #2 Rule of Money: Understand Where You Are – FiscalDad), and be willing to listen to the experts that you have built relationships with: (#3 Fundamental: #3 Fundamental of Money: Build A Team – FiscalDad). We must also try to understand how different personality traits deal with money. Personality and strengths assessments like DiSC, Enneagram, or CliftonStrengths can be very effective in understanding how we interact with each other and with money.
While I may use the 80/20 rule as a general term, I understand the importance of dealing with each situation on its own merits. This is why the bread and butter of FiscalDad Coaching is person-to-person individual coaching. Click on the “Book Now” button to schedule a free, 30-minute no obligation meeting to decide if we can connect on a personal level.
